BBGI announces acquisition of Bilfinger's concessions

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
BBGI announces acquisition of Bilfinger's concessions

As announced, the engineering and services group Bilfinger Berger has divested its Concessions portfolio. A contract has been signed with Bilfinger Berger Global Infrastructure SICAV S.A. (BBGI), an infrastructure fund listed on the London Stock Exchange, for the takeover of the projects available for sale from Bilfinger. BBGI is planning a capital increase to finance the transaction. Already in the middle of this year, the two parties had agreed on BBGI's acquisition of two additional projects in Canada. The completion of this sale took place also last week.

Bilfinger will generate gross proceeds of €270 million from the two transactions, the capital gain is in excess of €50 million. The company said that transaction costs and expenses for winding-up the discontinued Concessions activities amount to more than €10 million. Depending on the approval of the parties involved, several projects can be transferred to the buyer in the current year and the remaining portfolio can be transferred in 2014.

Bilfinger will still retain the M6 Duna and the M6 Tolna highways in Hungary as well as the A1 in Germany in its portfolio. In light of the development of traffic volumes, the A1 autobahn project is currently under review.

BBGI announced on November 14th that it has completed the acquisition of a 50% equity and loan note interest in Kelowna & Vernon Hospitals and 100% equity and loan note interest in North East Stoney Trail.

The Kelowna & Vernon Hospitals project is a long term PPP concession contract to operate and maintain a new Patient Care Tower, a new University of British Columbia Okanagan Clinical Academic Campus and car park at Kelowna General Hospital and a new Patient Care Tower at Vernon Jubilee Hospital. These facilities are in the cities of Kelowna and Vernon in the interior of British Columbia, Canada. The project is availability-based with no volume risk.

North East Stoney Trail is a long term PPP concession contract to operate and maintain a 21km section of new highway, forming part of a larger ring road developed in Calgary, Alberta, Canada. The project is an availability-based road project with no traffic volume risk.

The total consideration paid by BBGI is CAD$41.3 million.

BBGI own a portfolio of 22 infrastructure assets. These projects are operational PPP / PFI assets and are supported by contracted, public sector-backed revenue streams, with inflation-protection characteristics.

List of country news

Country news

  • November 19, 2013

    DIF Infrastructure III acquires four PV solar projects in Canada

    DIF Infrastructure III has signed sale and purchase agreements to acquire four 10 MW ground mounted PV solar projects from Canadian Solar Solutions Inc., a subsidiary of Canadian Solar Inc. The four utility-scale power plants, located in Georgina, Pefferlaw, Scugog and Kawartha Lakes, in the province of Ontario, Canada, are expected to start construction in 2013 and 2014, with commercial operation for all projects expected in 2014. All projects will sell power pursuant to a 20 year feed in tariff with the Ontario Power Authority. Read more
  • November 19, 2013

    RFP issued to shortlisted teams for Cambridge Memorial Hospital P3

    Infrastructure Ontario and Cambridge Memorial Hospital have released a request for proposals to prequalified companies to build and finance the hospital's expansion and redevelopment project. Read more
  • November 21, 2013

    RFP issued for Alberta school ASAP IV

    The Government of Alberta has published the Request for Proposal (RFP) to the single respondent that must submit detailed plans and financial bid for designing, building financing and maintaining 19 schools under a public private partnership contract. Read more
  • November 25, 2013

    Governments of Canada and New Brunswick announce contribution to water P3 project

    The Canadian federal government and the government of New Brunswick have announced they are making a combined investment of CAD$114.6 million to the City of Saint John Safe Clean Drinking Water project. Read more
  • November 28, 2013

    Three teams shortlisted for Swift Current health P3 in Saskatchewan

    Three qualified teams have been shortlisted to participate in the next stage of the competitive selection process to build the new 225 bed long-term care facility in Swift Current, Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.